The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and pushed higher on Monday. At the time of writing the benchmark index is up 0.7% to 6,006 points.
Four shares that have failed to follow the market higher today are listed below. Here’s why they have started the week in the red:
The APN Outdoor Group Ltd (ASX: APO) share price has fallen almost 4% to $4.29. The majority of this decline can be attributed to the outdoor advertising company’s shares going ex-dividend this morning for its 12.5 cents per share final dividend. Eligible shareholders can now look forward to receiving this distribution in their nominated account on April 20.
The Caltex Australia Limited (ASX: CTX) share price is down almost 1.5% to $32.95. Like APN Outdoor Group, today’s decline can be attributed to its shares going ex-dividend this morning. The fuel retailer will pay its 61 cents final dividend to eligible shareholders on April 6.
The Family Zone Cyber Safety Ltd (ASX: FZO) share price has tumbled nearly 7% to 56 cents. Investors have reacted negatively to the cyber-safety company’s update on its deal with Asian telco Aircel India. According to the release, that deal is up in the air now after Aircel filed for insolvency protection. Management remains confident that this will only delay the company’s inevitable entry into the India market.
The Newcrest Mining Limited (ASX: NCM) share price has fallen 4.5% to $20.62 after advising of a breakthrough of tailings material at its Cadia operation’s northern tailings dam embankment. As a precaution the miner stopped depositing tailings into both dams late on Friday and by Saturday had suspended all mining and processing operations at Cadia. This is likely to lead to a downgrade to its FY 2018 guidance. I would stay clear of Newcrest Mining for the time being.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.